Lehderstr 71
Lehder Straße 71 is DPI latest development in Berlin, Germany. Located in Weissensee, Lehder Straße 71 is only moments away from the heart of Prenzlauer Berg, Berlin’s most fashionable district. This is a unique opportunity to purchase an apartment in a fully managed building with a pooled rental income. A purchase in Lehder Straße 71 will generate consistent long-term rental income and offer investors the benefit of forecasted future capital growth.
KEY INVESTMENT CRITERIA
• Excellent Location
• Pooled rental system providing consistent rental income
• Building & apartment management services included
• High capital increase forecast
• Purchase finance available
• Prices from €45,000
THE LOCATION
Lehder Straße 71 is located in the Weissensee district, moments away from Prenzlaur Berg, Berlin’s most sought after address. Historically Weissensee was Berlin’s smallest district (by population) and was famous for its grand architecture, parks, lakes and leisure facilities. In recent years its popularity has increased due to its proximity to Prenzlauer Berg and has become a favourite amongst people seeking a balance between urban life and peaceful seclusion in a quiet part of Berlin. This is reflected by the sharp increase in demand for apartments by the affluent middle classes and as a consequence rents have increased significantly in the past 3 - 5 years
AT A GLANCE
• Prenzlauer Allee - a long, wide boulevard travelling directly
to Alexanderplatz - lined with shops, bars and restaurants.
• Helmholtzplatz - a square buzzing with nightlife – bars, pubs,
restaurants and clubs – not only the heart of Prenzlauer Berg
but arguably of Berlin itself.
• Alexanderplatz – The former centre of East Berlin
and home to the famous TV-Tower.
• Hackescher Markt – A recently refurbished area famous for
its buildings with linked courtyards and is now a popular
destination for both shopping and nightlife.
• Galeria Kaufhof – Berlin’s second largest department store.
BUILDING LOCATION
Lehder Straße 71 is located on a quiet street 150m’s from Prenzlauer Allee, one of Berlin’s main thoroughfares, and is a short walk to Prenzlauer Berg’s Helmholtzplatz known for its ultra chic restaurants and bars. The nearest tramline (M2) with a direct link to Alexanderplatz, with S-Bahn, U-Bahn and regional rail links, is a mere 150m’s walk of the building, providing easy access to Berlin’s excellent public transport network. Local amenities include convenience stores, large supermarkets, parks, and access to many leisure venues including Berlin’s famous Planetarium.
BUILDING DESCRIPTION
Lehder Straße 71 consists of 2 four-storey buildings separated by a courtyard. Building 1 looks onto the street and the courtyard, and consists of 1 commercial unit, 1 Studio apartment, 10 one-bed apartments - of which 6 have terraces which overlook the street. Building 2 looks onto the courtyard and rear garden, with south-facing views to Prenzlauer Berg and beyond. It consists of 13 large studio apartments and 3 one-bed apartments. At the rear of the building there is a large communal garden and children’s play area.
APARTMENT DESCRIPTION
| It is standard in Berlin for tenants to rent the apartments unfurnished and in most cases (excluding high-spec penthouses) without kitchens or kitchen appliances. The apartments in Lehder Straße 71 will be sold with the standard specification expected for this location. Each apartment boasts large light-filled rooms with views to the street and/or the courtyard or rear garden. Specifications include high ceilings, excellent heat and sound insulation, polished hardwood (Oak) floors, tiled bathrooms, and gas-fired central heating. Average apartment sizes are unusually large with studio’s averaging 32 sqm (342 sqft) and one beds averaging 56 sqm (600 sqft). |  |
BUILDING UPGRADES
A programme of improvements is planned to coincide with the development of the lofts. When complete, investors will benefit from the following features:
• Upgrading of the buildings’ Façades
• Upgrading of the buildings’ interior common areas
• Upgrading of the terraces on building 1
• Landscaped courtyard and rear garden
• Secure storage rooms for each apartment in the buildings’ basements
• Cycle parking spaces
• Upgraded security entrance
• Construction of 4 large high-spec contemporary penthouse
apartments with private roof terraces.
These works will begin in late spring and will be completed by early 2009. The building will remain occupied during this time and apartment purchasers will continue to receive rental income during the building upgrade period. As a security measure for purchasers, RealReturns have negotiated with the seller to ensure that a % of the purchase price remains in the Lawyer’s safe ESCROW account until the project’s architect is satisfied that all planned improvements have been completed.
LETTING & MANAGEMENT
DPI, in conjunction with a skilled management company, will coordinate the letting and rent collection for each apartment in Lehder Straße 71. The management company collects the monthly ‘Warm’ rent from each tenant, pays the utility bills, associated common charges and management fees. The remainder, the NET or ‘Cold’ rent, will be paid directly to the owner’s bank account on a monthly basis. Tenants tend to live in their apartment for many years, however, should a tenant decide to leave Lehder Straße 71 the management company will advertise the apartment’s availability, find suitable tenants and carry out all of the necessary background and credit checks. The management company, acting on behalf of the owners, will coordinate, manage, implement, organise the terms of the lease, and the day to day maintenance of the building.
RENT POOLING
On behalf of the apartment owners the management company will operate a pooled rental system. This is a unique system where the total NET rent in the building is collected and distributed to each apartment owner on a % basis (an owner will receive a % of the rent equal to the % of the building area their apartment makes up). Apartment owners then benefit from achieving a % of the rent the entire building is generating, thus removing the potential for unlet periods generating no income. The Management Company will also increase rents annually in line with lease terms and current upward trends. Apartment owners will achieve a % of this increase (even if the rent in their apartment does not increase). Owners will commit to this rental arrangement when signing purchase contracts and this agreement will be in operation for a period of five years after which time apartment owners can decide whether or not they want to keep the system in operation.
PURCHASE PROCEDURE
| • €2,000 deposit (non-refundable) paid upon the signing of the reservation contract • 25% of the purchase price (less the reservation deposit) to be paid within 7 days of signing the purchase contract • 75% of the purchase price to be paid upon handover |
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Floor Plans
Front Elevation - Ground Floor - First Floor - Second Floor - Third Floor
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